| 1 |
The figure of the credit purchase can be worked out. |
- A. Total debtors account
- B. Total creditors account
- C. Cash book
- D. Balance sheet
|
| 2 |
Net worth is equal to, |
- A. Assets - Liabilities
- B. Liabilities - Assets
- C. Liabilities + Capital
- D. Capital + Assets
|
| 3 |
The opening capitla is ascertained by preparing. |
- A. Cash account
- B. Opening statements of affairs
- C. Total debtors account
- D. Total creditors account
|
| 4 |
In single entry system real accounts are not maintained so the preparation of, |
- A. Correctly
- B. Effectively
- C. Wrongly
- D. Approximately
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| 5 |
In single entrey system statements of assets and liabilities is called. |
- A. Balance sheet
- B. Statement of Affair
- C. Trial balance
- D. Income statement
|
| 6 |
Opening capital is calculated by taking the difference between, |
- A. Opening assets and closing assets
- B. Opening assets and closing liabilities
- C. Opening assets and Opening liabilities
- D. Closing assets and closing liabilities
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| 7 |
Under single entry system sometimes, |
- A. Double aspects of a transaction are recorded
- B. Single aspect of a transaction is recorded
- C. No aspect of a transaction is recorded
- D. All of the above
|
| 8 |
Bad debt written off always affect the |
- A. Deblor's account
- B. Creditors account
- C. Cash account
- D. All of the above
|
| 9 |
Bills payable issued durint the period must be debited to total creditors account credited to. |
- A. Bills payable account
- B. Bills receivable account
- C. Debtora account
- D. Cash account
|
| 10 |
The closing balance of trade debtors can be located from. |
- A. Total debtors account
- B. Balance sheet
- C. Bils receivable account
- D. Cash book
|